Is Alto, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Alto has remained a Seller's Market.
Key Takeaway
Alto is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alto, MI
How much do homes in Alto, MI cost?
Median Sold Price
$470,000
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Alto have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Alto was $470,000 in May 2024, up 1.3% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $400K | N/A |
| 2 Bedrooms | $279K | $310K | +11.1% |
| 3 Bedrooms | $417.5K | $404.9K | -3.0% |
| 4 Bedrooms | $472.5K | $467.9K | -1.0% |
| 5+ Bedrooms | $564.9K | $665K | +17.7% |
Summary: Alto housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 17.7%.
Median Sold Price Compared To Nearby Cities
| Lowell Charter Township | $343.3K | $400K | +16.5% |
| Cascade Charter Township | $530K | $550K | +3.8% |
| Caledonia Township | $385K | $395.3K | +2.7% |
| Alto | $463.7K | $470K | +1.3% |
| Bowne Township | $424K | $399.9K | -5.7% |
Housing Supply in Alto, MI
How many homes are available in Alto, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 27 | +28.6% |
Summary: The Alto real estate market had 27 homes for sale in May 2024, a 28.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 9 | 14 | +55.6% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Alto housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alto, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Alto in May 2024, up by 50.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Alto, MI
How long does it take to sell a home in Alto, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 29 Days | +51.5% |
Summary: Homes in Alto had an average of 29 days on market in May 2024, up by 51.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Alto are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Alto; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
